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Ed Balls has been challenged by Labour supporters to end the “triple lock” on the state pension, as it emerged that some women would receive an increase of only £1.80 per week next year.

The Fabian Society will today push the Shadow Chancellor, a former vice-chairman of the organisation, to reexamine benefits for wealthy pensioners in order to spend more on skills training and capital spending. Mr Balls retains close links with the Fabians.

The triple lock was introduced by the coalition in 2010 and was a guarantee to increase the state pension every year by the highest out of